Tesla gets exclusive lane to cross the border between Mexico and Texas

Tesla has six suppliers in Nuevo León, including APG Mexico and Taiwanese companies EnFlex Corp. and Quanta Computer. And, at the intersection into Austin, Texas, motorists can spend nearly 30 minutes in rush hour traffic.

But for Tesla this time will be reduced to 10 minutes thanks to this exclusive lane. Bloomberg interviewed Iván Rivas, Secretary of Economy of the state, who stated that Nuevo León is becoming a “center of electric mobility” and that the electric vehicle industry is expected to represent between 5 and 7% of the investments that they will arrive in the state in 2022.

In June, Elon Musk confirmed his interest in building other Tesla factories outside the United States, including Canada and Mexico. But nothing has yet been defined or detailed about the possible locations.

In its latest quarterly report, Tesla doubled its profits, compared to the second quarter of 2021, and expects to increase its capital (investment) expenses by billions of dollars. This after Elon Musk referred to his gigafactories as “giant money ovens.”

Tesla had planned to spend between $5 billion and $7 billion on expanding its factory facilities and other investments this year, but now plans to spend up to $8 billion.